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Prototype of a planned home-buying brokerage for the 50 largest U.S. cities. Not a licensed brokerage in any state, and no brokerage services are offered. Listings, people and companies are sample data; market statistics are real public data, cited where shown.

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Trends · Indiana

House prices and costs in Indianapolis, IN

How house prices moved across 34 Indianapolis ZIP codes, what buyers here borrowed and paid, what's new and how buying works in Indiana. Public data, with sources and dates. Past change, not a forecast.

Indianapolis-Carmel-Greenwood, IN metro house prices +2.0% in the year to 2026 Q2 (FHFA, purchases)

7.03% is Freddie Mac's average 30-year fixed rate for the week of Sep 24, 2026, for buyers with 20% down and excellent credit. It isn't an offer or an APR.

How house prices moved in Indianapolis, 2022–2025

Of 33 ZIPs with enough data, 32 rose 7% or more, 0 fell 7% or more and 1 moved less (no clear change). Past rankings are a weak guide: of the ZIPs in their city's top 3 for 2019–2022, 25 of 134 (about 1 in 5) were top 3 again for 2022–2025; chance alone would give about 21. Past change, not a forecast.

FHFA's experimental ZIP house price index: houses with Fannie Mae or Freddie Mac loans, from sales and refinance appraisals. Condos, co-ops and multi-unit buildings aren't in it. Tap a ZIP to see it on the map.

Largest house-price rises, 2022–2025

3-year change of the ZIP index; ZIPs with an index every year, 5,000+ residents and 1,000+ owner-occupied homes. Left out as too jumpy: a ZIP whose index rose 7% or more in one year and fell as much in another. Each year's change below.

  1. 1ZIP 462222023 +13.7% · 2024 +1.0% · 2025 +9.9%+26.2%
  2. 2ZIP 462312023 +21.7% · 2024 -4.2% · 2025 +6.5%+24.2%
  3. 3ZIP 462252023 +6.9% · 2024 +9.6% · 2025 +4.8%+22.8%
  4. 4ZIP 462182023 +14.5% · 2024 +5.2% · 2025 +1.3%+22.0%
  5. 5ZIP 462212023 +9.2% · 2024 +11.2% · 2025 -0.4%+20.9%

Largest house-price falls, 2022–2025

3-year change of the ZIP index; ZIPs with an index every year, 5,000+ residents and 1,000+ owner-occupied homes. Left out as too jumpy: a ZIP whose index rose 7% or more in one year and fell as much in another. Each year's change below.

No Indianapolis ZIP's house prices fell 7% or more from 2022 to 2025.

Lowest owner-reported values

Median value owners report (Census ACS 2020–2024). Left out: ZIPs under 1,000 residents, less reliable estimates, and ZIPs where most owners live in condos or co-ops.

  1. 1ZIP 46218± $6.5K · ≈ $742/mo housing payment (est.) on a house, 20% down$103K
  2. 2ZIP 46222± $9.3K · ≈ $824/mo housing payment (est.) on a house, 20% down$116K
  3. 3ZIP 46241± $12K · ≈ $910/mo housing payment (est.) on a house, 20% down$130K
  4. 4ZIP 46226± $7.6K · ≈ $1,085/mo housing payment (est.) on a house, 20% down$159K
  5. 5ZIP 46225± $15K · ≈ $1,108/mo housing payment (est.) on a house, 20% down$162K

Population grew most

Residents, 2015–2019 to 2020–2024 (Census ACS): only changes larger than the margin of error, in ZIPs with 1,000+ residents.

  1. 1ZIP 4625915,169 residents+37.9%
  2. 2ZIP 46204 · includes Downtown11,400 residents+36.4%
  3. 3ZIP 4623743,473 residents+11.0%
  4. 4ZIP 4611317,192 residents+10.9%
  5. 5ZIP 4623933,931 residents+10.7%

Public loan records · 2025

What buyers here actually borrowed and paid (2025)

2025 home-purchase loans (first liens) on owner-occupied 1–4 unit homes in Indianapolis's census tracts: 8,632 loans. These are loans that closed in Indianapolis, not offers: a rate depends on your credit, down payment, points and the day you lock it.

Interest rate, 30-year fixed (conventional)
6.374% to 6.875%Middle half of loans; median 6.625% · 5,319 loans
Loan costs at closing
$2,764 to $4,843Middle half; median $3,448. Origination charges (points included) and settlement services, Closing Disclosure section D · 5,836 loans
Borrowed, every loan on the home combined
95% of the value (median)Middle half 80% to 96.7%. 74% of buyers borrowed more than 80% of the value, 60.9% more than 90%, 40.9% more than 95%. HMDA's combined loan-to-value: every loan on the home (second loans, down-payment-assistance loans and financed FHA or VA fees too) ÷ the value the lender used, so it doesn't show the cash buyers put down · 8,306 loans
Loan types
Conventional 69.7% · FHA 24.3%VA 6% · USDA 0%
Discount points
47.7% of loans paid pointsMedian paid: $1,497. Points buy a lower rate.
Loan limits, 2026
$832,750 conformingAbove it, a jumbo loan with its own rates and rules; FHA limit $541,287 (one-unit home, Marion County)

For comparison: 7.03% is Freddie Mac's average 30-year fixed rate for the week of Sep 24, 2026, for buyers with 20% down and excellent credit. It isn't an offer or an APR. Source: FFIEC Home Mortgage Disclosure Act (HMDA) data: 2025 Snapshot National Loan-Level Dataset (data as of June 1, 2026), via the CFPB HMDA Data Browser; Homiy's calculations (2025 loans; retrieved 2026-09-27).

Research · dated and sourced

What's new in Indianapolis

Rail openings, zoning changes and big projects from primary sources, newest first. Stars on the map mark the ones with a location. News, not a price forecast.

  1. Project

    Blue Line BRT breaks ground

    IndyGo began its Washington Street/airport corridor project. It remains a construction milestone here, not an opened route or guaranteed delivery date.

    IndyGo, Blue Line groundbreaking
  2. Rail opened

    Purple Line BRT begins service

    IndyGo’s new bus rapid transit corridor links downtown Indianapolis and Lawrence. It is BRT, not light rail.

    IndyGo, Purple Line launch announcement

Metro area · public data

Indianapolis-Carmel-Greenwood, IN

House prices, year to 2026 Q2
+2.0%FHFA purchase-only index
House prices, 5 years to 2026 Q2
+35.2%FHFA purchase-only index
House prices, 2025
+4.8%All sales and refinances, like the ZIP figures; 2022–2025: +16.8%
New homes permitted
5.8 per 1,000 residents12,843 homes · +7.4% vs a year earlier · Sep 2025–Aug 2026
Jobs, 12 months
-1.1%Aug 2026 (preliminary)
Population, July 2020 to July 2025
+5.4%2,205,695 residents in July 2025 (Census estimates)
Mortgage rate benchmark
7.03%Freddie Mac average, week of Sep 24, 2026

7.03% is Freddie Mac's average 30-year fixed rate for the week of Sep 24, 2026, for buyers with 20% down and excellent credit. It isn't an offer or an APR. New homes permitted is a supply signal: more permits per resident usually means more homes coming to market. Jobs, permits and population cover the whole metro.

Natural hazards, compared with other U.S. counties

  • Marion County, IN: expected yearly losses rated relatively high for inland flooding, heat wave, tornado, winter weather.
    Other ratings for Marion County, IN
    • EarthquakeRelatively Moderate
    • WildfireVery Low
    • HurricaneVery Low
    • HailRelatively Moderate

FEMA National Risk Index December 2025: Expected Annual Loss rating of each hazard, by county (NRI December 2025): expected annual losses to buildings, people and agriculture; FEMA's social-vulnerability adjustments aren't included. This describes each county, not this home. Check the address on FEMA's flood map; in a high-risk flood zone, a federally backed loan requires flood insurance.

Sources (7)

Research summary · not legal advice

How buying works in Indiana

The usual steps, deadlines and closing costs for a purchase in Indianapolis, from state law, standard contract forms and local custom. Contracts can change any of it. Homiy is a prototype: it isn't a licensed brokerage in Indiana and offers no services here.

Who runs the closing
A title company runs the closing and holds the money. Typical time from contract to keys: about 35 days.
The contract
Your signed offer becomes a binding contract once the seller accepts it.
Details

Indiana Association of REALTORS Purchase Agreement

Buyer agreement
Indiana written buyer agency agreement, signed before touring.
Details

Homiy's prototype requires a written agreement before a represented tour. NAR's rule binds participating MLS brokers; do not describe it as a universal state law. Compensation is negotiable and total brokerage pay cannot exceed the agreement.

Source: NAR: written buyer agreements before touring (MLS participation rule, not a universal state statute) (reviewed 2026-09-27)

Inspection
About 10 days for inspections.
Details

Use the purchase agreement's defect notice and response process. 10 calendar days is a negotiable sample planning period, not a statutory deadline.

Earnest money
1–3% of the price, due within 3 days, held by: Named broker trust or title escrow.
Details

Sample only: delivery within 3 calendar days and 1–3% earnest money; the signed contract controls. Buyer delivery is distinct from the holder's statutory deposit deadline.

Seller's disclosure
Indiana Seller's Residential Real Estate Sales Disclosure You may cancel within 2 business days in some cases: Form/amendment delivered after acceptance discloses a defect: written rescission within 2 BUSINESS days after receipt under IC32-21-5-13, with deposit return..
Details

Disclosure before acceptance under §32-21-5-10. Before closing an accepted offer is not enforceable against buyer until both sign disclosure; nondelivery alone does not invalidate a completed conveyance. This is not a general 10-day rescission rule (HOA document delivery has a different rule).

Source: Indiana Code §32-21-5-13: late defect disclosure rescission (2025 statutory text mirror)

Loan and appraisal
Loan contingency: 21 days (set in the contract).
Details

21-day financing period and the typical closing time are sample planning assumptions, not measured averages or legal rights. Financing and appraisal protection require the signed form/addenda; an appraisal shortfall is not automatically protected.

Title insurance
The seller customarily pays for the owner's policy.
Details

Payer is a negotiable local custom, not a mandatory charge; obtain a title quote and follow the signed allocation. Filed insurer/rating-bureau rates are not a state-promulgated price. No state real-estate transfer tax modeled; ordinary recording fees still apply. Buyer generally buys lender coverage.

Property tax for a new owner
Your property tax follows the county's assessed market value. About 1.0% of the price a year is our planning figure for Indianapolis; your bill can differ.
Details

Annual market-value-in-use assessment. Qualifying homestead circuit-breaker cap is 1% of gross assessed value, not purchase price; referendum levies can be outside the cap. Homestead deductions/credits require qualification and may make tax lower. Do not present 1% as an all-in guarantee.

LOW-CONFIDENCE planning allowance based on Indiana's qualifying homestead circuit-breaker cap of1% of GROSS assessed value, not an observed Indianapolis effective rate or an all-in maximum. Referendum levies can exceed the cap; homestead deductions/2026 credits may reduce actual tax. New buyer must qualify/file; replace price proxy with assessor value and district-specific calculation. HOA range and lender-title percentage are SAMPLE inputs.

Agent credits to the buyer
Indiana allows an agent to credit part of their pay to the buyer, with the lender's approval.
Details

876IAC8-2-7 prohibits undisclosed inducements/rebates, not disclosed transaction-party credits. Give full written disclosure to all parties when offered/accepted and obtain lender approval.

Source: Indiana 876 IAC 8-2-7(2): written disclosure of inducements/rebates (administrative rule text mirror; reviewed 2026-09-27)

Closing taxes

Indiana and Indianapolis charge no transfer or mortgage tax at closing in our research; recording fees still apply.

Programs and after you buy

Down-payment help
First Step and Next Home (Indiana Housing and Community Development Authority (IHCDA))First Step pairs a 30-year fixed mortgage with non-forgivable down payment assistance for first-time buyers; Next Home offers 2.5% or 3.5% of the price.Official page, checked 2026-09-28.Indiana's housing finance agency runs it; the program decides who qualifies and for how much.
Down-payment help in Indianapolis
We found no city or county down-payment program for Indianapolis. Where we looked: indy.gov, whose Affordable Housing page refers prospective buyers to the Indianapolis Neighborhood Housing Partnership (a nonprofit), and web searches.Checked 2026-09-28.
Homestead exemption
Deductions and Credits (Indiana Department of Local Government Finance)Deductions such as the homestead deduction lower a home's assessed value; apply once to the county auditor.Deadline: January 15 (for example, by January 15, 2026 for the 2025-pay-2026 bill)Official page, checked 2026-09-28.
If you disagree with your assessment
Appeal a Property Assessment: Subjective (Marion County Assessor's Office)An opinion-based appeal (grade, condition, market adjustment or trending factors); errors in the property's data use the objective appeal.When: June 15 of the payable tax yearOfficial page, checked 2026-09-28.
After you buy: alerts on your deed
Property Fraud Alerts (indy.gov (Indianapolis and Marion County))The official sign-up page for property fraud alerts.Official page, checked 2026-09-28.
Sources (8)

Methodology

How we measure, and what it isn't

Past change, not a forecast. These figures describe the past from public data; they don't tell you where prices go next.

House prices by ZIP, and the rankings

FHFA's experimental ZIP house price index: houses with Fannie Mae or Freddie Mac loans, from sales and refinance appraisals. Condos, co-ops and multi-unit buildings aren't in it. It's built from repeat sales and refinance appraisals of the same homes, not average sale prices, and FHFA publishes no margin of error for it. We rank ZIPs by the change over the last 3 years, only where FHFA published the index in every one of them, and only ZIPs with 5,000+ residents and 1,000+ owner-occupied homes. A change smaller than 7% either way is “no clear change”: in our 50 cities, the index's own year-to-year swings suggest sampling alone can move a three-year change about that much. A ZIP whose index rose 7% or more in one year and fell as much in another is left out as too jumpy. We show rises and falls, each year's change, and the city's and metro's figures for the same years. Past rankings are a weak guide: of the ZIPs in their city's top 3 for 2019–2022, 25 of 134 (about 1 in 5) were top 3 again for 2022–2025; chance alone would give about 21. Many ZIPs, especially dense ones, have no index.

City and metro price figures

City: the resident-weighted average of its ZIPs that have an index (the ZIP card says when that's only part of the city). Metro: FHFA's all-transactions index over the same calendar years, the ZIPs' method; the metro card also shows FHFA's purchase-only index for the latest quarter against a year and five years earlier. Where FHFA splits a metro into divisions (New York, Miami, Detroit and others), the division's index, named where it's shown. Jobs, permits and population always cover the whole metro.

Payment ÷ income

Monthly housing payment (est.) on a house at the ZIP's median value: 20% down · 30-year fixed at 7.03% (Freddie Mac average) · 360 monthly loan payments · APR not calculated (it depends on the lender's fees) · includes principal and interest, property tax, home insurance and any HOA dues, plus mortgage insurance below 20% down. Property tax uses Indianapolis's rule for a new buyer (about 1.0% of the price a year, our planning figure); insurance is a typical premium. Not included: upkeep, utilities, flood insurance, special assessments. Divided by a month of the ZIP's median household income. The Census reports values over $2 million and incomes over $250,000 only as “or more”, so those shares are bounds (“at least”, “at most”). Left out where 50% or more of owner-occupied homes are in buildings with 5+ units: their HOA dues or co-op charges aren't in the payment. It combines two estimates, so no margin is computed. 7.03% is Freddie Mac's average 30-year fixed rate for the week of Sep 24, 2026, for buyers with 20% down and excellent credit. It isn't an offer or an APR.

Census figures and margins of error

American Community Survey 5-year estimates, 2020–2024: the median value owners report for their homes (it lags sale prices; co-op owners report the value of their shares), median rent with utilities, median household income, residents, and the property tax and monthly costs owners report. Each comes with its 90% margin of error (±). Figures whose margin is 20–49% of the estimate are marked “less reliable” and left out of rankings and tags; figures with wider margins aren't shown. A population change (from 2015–2019) is shown only when it passes the Census Bureau's 90% significance test; otherwise it says “no clear change”. Indianapolis's own figures come from the Census's estimates for the city itself where published; otherwise they blend its ZIPs (no margin computed). Lists leave out ZIPs with fewer than 1,000 residents.

Tags

Lower home values:
The median value owners report is in the lowest quarter of the city's ZIPs (Census ACS). Less reliable estimates and ZIPs where most owners live in condos or co-ops aren't compared.
Population grew:
Residents rose 5% or more between the two latest five-year Census surveys, by more than the margin of error.
Mostly condos or co-ops:
Half or more of owner-occupied homes are in buildings with 5 or more units. Values there leave out HOA dues and co-op charges, so they aren't ranked.
New rail nearby:
A rail station opened within about a mile in 2023–2026.

“New rail nearby” uses our dated news pins: a ZIP whose center is within 1,600 m of a station that opened, plus the ZIP the station sits in. No tag describes price momentum.

Hazards and flood insurance

FEMA's National Risk Index rates each county's expected yearly losses from each hazard against all U.S. counties; we show those Expected Annual Loss ratings for every county the city lies in, without FEMA's social-vulnerability adjustments. They describe counties, not homes. Flood insurance counts are policies and claims in the federal program (NFIP) only. Check an address's flood zone on FEMA's flood map.

What buyers borrowed and paid

Public HMDA loan records: home-purchase first liens on owner-occupied 1–4 unit homes in the city (the card names the area covered), with the number of loans behind each figure. Loans that closed, not offers or quotes.

Neutral by design

We describe prices, payments, population counts, construction and rail lines. We don't describe places by who lives there, schools or crime, and we don't call areas “up-and-coming”, “transitional” or “safe”. Choose where to live for your own reasons.

Sources and dates